India's Economic Ambitions: Navigating Global Challenges En Route to 2047

Chief Economic Adviser V Anantha Nageswaran addresses India's economic strategies amid global challenges. Emphasizing a growth target of 8% annually to reach developed nation status by 2047, he highlights the nation's position as a leading economy. Growth dependency on global exports and agriculture contributions was noted.

In the wake of global economic challenges, Chief Economic Adviser V Anantha Nageswaran emphasized India's need to leverage favorable global conditions to accelerate growth and achieve developed nation status by 2047.

He cited the Economic Survey, which indicates a necessary growth rate of 8% over decades, despite projections of a slowdown to 6.4% in 2024-25.

Addressing foreign investment concerns and currency stability, Nageswaran stressed India's strong position as a fast-growing large economy, capable of attracting significant FDI due to promising returns amid global competition.

(With inputs from agencies.)